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Hot Money Monday: These are the most in-demand stocks on the ASX right now
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Each Monday, Stockhead recaps the ASX stocks that are running hot with investors.
The analysis is based on the Relative Strength Index (RSI), a technical gauge which measures how trading momentum is affecting the price action.
A reading of 70 is seen as the level at which a company may have been overbought. If a stock has a reading of 30 or below, it could be undervalued.
Click here for a more detailed rundown of what the RSI does and how it’s used.
While there’s usually a pretty good reason if a given stock is running hot (or cold), investors are also on the lookout for opportunities where the price action has separated from fundamentals.
Running Hot
Here’s a summary of the stocks that were running hot for the two weeks ended Friday, November 13:
Scroll or swipe to reveal table. Click headings to sort.
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| ANX | Anax Metals Ltd | 0.048 | 89 | $ 11,655,269.89 |
| JHC | Japara Healthcare Ltd | 0.605 | 89 | $ 146,986,030.40 |
| EVZ | EVZ Limited | 0.15 | 89 | $ 12,975,759.09 |
| MEA | McGrath Ltd | 0.4 | 88 | $ 66,739,974.00 |
| WCG | Webcentral Group Ltd | 0.235 | 87 | $ 25,647,536.04 |
| AZS | Azure Minerals | 0.705 | 86 | $ 157,425,201.05 |
| RXP | RXP Services Ltd | 0.525 | 81 | $ 90,022,076.56 |
| GMA | Genworth Mortgage | 2.21 | 81 | $ 903,406,062.96 |
| SHK | Stone Resources Aus | 0.055 | 80 | $ 43,474,792.82 |
| MPR | Mpower Group Limited | 0.05 | 80 | $ 7,942,320.80 |
| RAC | Race Oncology Ltd | 1.42 | 80 | $ 177,927,193.13 |
| RMC | Resimac Grp Ltd | 1.85 | 80 | $ 666,688,801.73 |
| TMZ | Thomson Res Ltd | 0.125 | 79 | $ 18,073,685.50 |
| TLG | Talga Resources | 1.8 | 79 | $ 459,980,588.83 |
| CLT | Cellnet Group | 0.085 | 77 | $ 9,958,879.81 |
| POW | Protean Energy Ltd | 0.013 | 77 | $ 3,579,693.12 |
| TMT | Technology Metals | 0.45 | 77 | $ 49,280,000.00 |
| MOZ | Mosaic Brands Ltd | 0.88 | 77 | $ 82,646,805.15 |
| VUL | Vulcan Energy | 1.83 | 76 | $ 124,566,381.42 |
| IXU | Ixup Limited | 0.096 | 76 | $ 53,015,548.12 |
| VOL | Victory Offices Ltd | 0.395 | 75 | $ 32,720,000.00 |
| CNJ | Conico Ltd | 0.043 | 74 | $ 27,615,732.38 |
| LOV | Lovisa Holdings Ltd | 11.27 | 73 | $ 1,077,820,249.38 |
| HLO | Helloworld Travl Ltd | 2.24 | 73 | $ 356,564,043.50 |
| RHY | Rhythm Biosciences | 0.37 | 72 | $ 84,628,240.62 |
| IBX | Imagion Biosys Ltd | 0.1025 | 72 | $ 89,348,661.23 |
| CCR | Credit Clear | 0.825 | 72 | $ 127,494,265.85 |
| STG | Straker Translations | 1.5 | 71 | $ 79,714,980.00 |
| CT1 | Constellation Tech | 0.026 | 70 | $ 33,937,692.25 |
A total of 29 stocks recorded a 14-day RSI measure of more than 70, up from 24 in the week prior.
Among the leaders was Japara Healthcare (ASX:JHC), which rose for six straight sessions capped off by a 21.82 per cent gain on Friday on no news.
The aged care operator was negatively disrupted by COVID-19, with shares in the company falling from around $1 in February to 35c in February.
In a trading update on October 30, the company said the second COVID-19 outbreak in Victoria — where it has 33 of its 50 homes — had a “noticeable impact on occupancy and operations during the first months of FY2021”.
Buy a November rally has seen JHC rise from around 40c to a Friday close of 67c.
Two other stocks running hot were Anax Metals (ASX:ANX), which rallied strongly following its re-listing on the ASX (from its previous iteration as Aurora Minerals) and engineering firm EVZ Ltd (ASX:EVZ), which bounced sharply following a strong trading update.
Running Cold
Here are the stocks that were running cold for the two weeks ended Friday, November 13:
| Code | Company | Price | RSI | MktCap$ |
|---|---|---|---|---|
| PCH | Property Connect | 0.0015 | 29 | $ 1,028,795.21 |
| ALK | Alkane Resources Ltd | 1.03 | 29 | $ 610,273,520.00 |
| GTE | Great Western Exp. | 0.2 | 23 | $ 23,239,612.20 |
| ECG | Ecargo Hldg | 0.015 | 15 | $ 11,074,500.00 |
| VAN | Vango Mining Ltd | 0.078 | 20 | $ 75,513,049.30 |
| AGS | Alliance Resources | 0.19 | 23 | $ 32,094,014.40 |
| AEI | Aeris Environmental | 0.4 | 26 | $ 97,018,191.60 |
| BCK | Brockman Mining Ltd | 0.022 | 28 | $ 204,143,106.88 |
| WJA | Wameja Limited | 0.115 | 28 | $ 139,247,826.13 |
| TGO | Trimantium Growthops | 0.032 | 24 | $ 4,862,233.54 |
| ATH | Alterity Therap Ltd | 0.026 | 24 | $ 33,906,375.98 |
| AQD | Ausquest Limited | 1.8 | 27 | $ 12,191,988.26 |
| GLV | Global Oil & Gas | 0.9 | 28 | $ 6,209,433.02 |
| ISD | Isentia Group Ltd | 0.12 | 29 | $ 25,000,000.13 |
| TGO | Trimantium Growthops | 0.032 | 24 | $ 4,862,233.54 |
| EOF | Ecofibre Limited | 1.62 | 28 | $ 242,575,182.47 |
| AEI | Aeris Environmental | 0.385 | 26 | $ 97,018,191.60 |
| MPH | Mediland Pharm | 0.089 | 16 | $ 27,835,961.29 |
